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{"id":499465,"date":"2022-08-22T04:48:43","date_gmt":"2022-08-22T04:48:43","guid":{"rendered":"https:\/\/wncen.com\/?p=499465"},"modified":"2024-06-11T14:22:48","modified_gmt":"2024-06-11T14:22:48","slug":"ethereum-bears-aim-big-1600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bears-aim-big-1600\/","title":{"rendered":"TA: Ethereum Bears Aim Big After Recent Breakdown Below $1,600"},"content":{"rendered":"

Ethereum declined heavily below the $1,750 support against the US Dollar. ETH is showing bearish signs and remains at a risk of more losses below $1,550.<\/em><\/p>\n

\n
Ethereum started a fresh decline and traded below the $1,600 level.<\/li>\n
The price is now trading below $1,650 and the 100 hourly simple moving average.<\/li>\n
There was a break above a connecting bearish trend line with resistance near $1,580 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could continue to move down if it stays below the $1,700 resistance zone.<\/li>\n<\/ul>\n
Ethereum Price Turns Bearish<\/h2>\n
Ethereum started a major decline<\/a> below the $1,700 level. ETH traded below the $1,650 support zone to move further into a bearish zone.<\/p>\n
It opened the doors for a move below the $1,600 level. Finally, the price traded as low as $1,524 before the bulls appeared. It started an upside correction and traded above the $1,580 level. There was a break above a connecting bearish trend line with resistance near $1,580 on the hourly chart of ETH\/USD.<\/p>\n
Ether price climbed above the 23.6% Fib retracement level of the key decline from the $1,878 swing high to $1,524 low. However, the bears were active near the $1,650 zone.<\/p>\n
The price is now trading below $1,650 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $1,625 level. The first major resistance is now forming near the $1,650 level. The next major resistance is near the $1,700 level and the 100 hourly simple moving average.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
The 50% Fib retracement level of the key decline from the $1,878 swing high to $1,524 low is also near the $1,700 level. A clear move above the $1,700 resistance could even push the price above the $1,750 resistance.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to rise above the $1,700 resistance, it could continue to move down. An initial support on the downside is near the $1,550 zone.<\/p>\n
The next major support is near $1,525, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,465 level. Any more losses may perhaps open the doors for a move towards the $1,420 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,525<\/p>\n
Major Resistance Level \u2013 $1,650<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum declined heavily below the $1,750 support against the US Dollar. ETH is showing bearish signs and remains at a risk of more losses below $1,550. Ethereum started a fresh decline and traded below the $1,600 level. The price is now trading below $1,650 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $1,580 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move down if it stays below the $1,700 resistance zone. Ethereum Price Turns Bearish Ethereum started a major decline below the $1,700 level. ETH traded below the $1,650 support zone to move further into a bearish zone. It opened the doors for a move below the $1,600 level. Finally, the price traded as low as $1,524 before the bulls appeared. It started an upside correction and traded above the $1,580 level. There was a break above a connecting bearish trend line with resistance near $1,580 on the hourly chart of ETH\/USD. Ether price climbed above the 23.6% Fib retracement level of the key decline from the $1,878 swing high to $1,524 low. However, the bears were active near the $1,650 zone. The price is now trading below $1,650 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,625 level. The first major resistance is now forming near the $1,650 level. The next major resistance is near the $1,700 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the key decline from the $1,878 swing high to $1,524 low is also near the $1,700 level. A clear move above the $1,700 resistance could even push the price above the $1,750 resistance. More Losses in ETH? If ethereum fails to rise above the $1,700 resistance, it could continue to move down. An initial support on the downside is near the $1,550 zone. The next major support is near $1,525, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,465 level. Any more losses may perhaps open the doors for a move towards the $1,420 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,525 Major Resistance Level \u2013 $1,650<\/p>\n","protected":false},"author":67,"featured_media":458757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,8686,78803],"class_list":["post-499465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Bears Aim Big After Recent Breakdown Below $1,600<\/title>\n<meta name=\"description\" content=\"Ethereum declined heavily below the $1,750 support against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum Bears Aim Big After Recent Breakdown Below $1,600","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bears-aim-big-1600\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bears-aim-big-1600\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_219745594.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_219745594.jpg?fit=1000%2C651"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd","ethusdt"],"dateCreated":"2022-08-22T04:48:43Z","datePublished":"2022-08-22T04:48:43Z","dateModified":"2024-06-11T14:22:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Bears Aim Big After Recent Breakdown Below $1,600\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bears-aim-big-1600\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bears-aim-big-1600\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_219745594.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_219745594.jpg?fit=1000%2C651\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2022-08-22T04:48:43Z\",\"datePublished\":\"2022-08-22T04:48:43Z\",\"dateModified\":\"2024-06-11T14:22:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_219745594.jpg?fit=1000%2C651","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/499465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=499465"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/499465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458757"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=499465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=499465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=499465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}